The Lublin Coal Project is a large scale thermal and semi-soft coking coal project, which is estimated to have a reserve of 1.6 billion tonnes of coal across four coal exploration concessions.
With the investment, CD Capital has earned the right to appoint two nominees to the Prairie board for as long as it has 15% interest in Prairie.
The funding is expected to help Prairie Mining to complete development of Lublin Coal Project, which will include a Definitive Feasibility Study and all required permitting.
Prairie CEO Ben Stoikovich said: "We are delighted to welcome CD Capital, as a strategic, long term investor and shareholder in the Company.
"They are an experienced and well-funded natural resources private equity fund who successfully identify and invest in world-class mining and resource assets.
"Their significant investment in the Lublin Coal Project is testament to the project’s outstanding fundamentals and potential, and provides the Company with a solid base to progress rapidly towards development".
